- U.S Markets closed lower on Friday.
- Right now , Dow futures are slightly lower.
- SGX Nifty is hovering around 17050.
- Big gap down opening is on cards today.
- Reason is the U.S Jobs data announced on Friday.
- Asian markets are lower.
- U.S Jobs data highly above Expectations.
- This triggered another large rate hike fear in U.S Markets.
- Nasdaq crashed 4% on Friday.
- FII's also sold heavily on Friday.
- They have sold for 2500 crores.
- FII's short position is now more than 80%.
- They have been carrying heavy short Positions offlate.
- First support should kick in near 17000.
- 200 DMA is close to 16800 so this should be the next major support.
- Accenture has declared okayish results but the guidance has not been good.
- This week we are going to have IT company results.
- Markets are going into results season with muted Expectations.
- That's always better than going in with high expectations.
- Nifty might Trade between 17000 to 17300 today.
- stockmarketadvisory.in
1. U.S Markets closed lower on Friday. 2. Dow Jones was flat. 3. Nasdaq was the underperformer. 4. Gift Nifty is down 30-40 Points. 5. Asian markets are mostly lower as well. 6. Friday the Nifty opened with a gap down of 200 points. 7. Within the next 10 minutes , Nifty recovered 100 points. 8. Bulls expected recovery is on the cards but Nifty started to Crack. 9. Bank Nifty was holding up Nifty for most of the while. 10. It couldn't be able to provide much of a support and Bank nifty also began to correct. 11. The issue now is market has had vertical rallies. 12. One way quick rallies so now the downfall will also be vertical. 13. When markets go up quick , they come down quicker. 14. Infy dragged the mood and also HUL didn't post extraordinary results so it was also a laggard. 15. Banks tried hard to hold the markets but couldn't. 16. Over the weekend , AU Bank and icici bank reported very good numbers. 17. These banks have already rallied a lot before results
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